2 guilty, 2 acquitted in $20M Starkey embezzlement case

Former Starkey Laboratories president Jerry Ruzicka and W. Jeff Taylor, former president of Starkey supplier Sonion, were convicted for their roles in a $20 million embezzlement scheme targeting the hearing aid manufacturer.

Author:
Associated Press

Published:03/08/18

MINNEAPOLIS - A former executive at hearing aid manufacturer Starkey Laboratories and a business associate have been found guilty of multiple counts in a $20 million embezzlement case.

Two other co-defendants were found not guilty Thursday.

The Star Tribune reports that former Starkey Laboratories president Jerry Ruzicka and W. Jeff Taylor, former president of Starkey supplier Sonion, were convicted for their roles in the scheme.

Prosecutors accused the men of stealing stock, bonuses and commissions from Starkey and owner Bill Austin over 10 years. Defense attorneys argued Ruzicka had Austin's permission to conduct business on his behalf. Austin testified Ruzicka didn't have the authority to make all the deals he did.